Sumitomo Mitsui DS Asset Management Company Ltd Raises Stake in Vulcan Materials (NYSE:VMC)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Vulcan Materials (NYSE:VMC) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,815 shares of the construction company’s stock after buying an additional 173 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Vulcan Materials were worth $3,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VMC. JPMorgan Chase & Co. grew its holdings in shares of Vulcan Materials by 47.4% during the third quarter. JPMorgan Chase & Co. now owns 4,503,484 shares of the construction company’s stock worth $909,794,000 after buying an additional 1,447,700 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Vulcan Materials by 30,160.4% during the third quarter. Wellington Management Group LLP now owns 541,359 shares of the construction company’s stock worth $109,365,000 after buying an additional 539,570 shares in the last quarter. Palestra Capital Management LLC grew its holdings in shares of Vulcan Materials by 68.9% during the third quarter. Palestra Capital Management LLC now owns 560,315 shares of the construction company’s stock worth $113,195,000 after buying an additional 228,510 shares in the last quarter. FMR LLC boosted its position in shares of Vulcan Materials by 6.8% in the third quarter. FMR LLC now owns 3,042,842 shares of the construction company’s stock worth $614,715,000 after acquiring an additional 194,337 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Vulcan Materials in the third quarter worth approximately $32,535,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Vulcan Materials Trading Up 1.9 %

Shares of VMC stock opened at $259.27 on Wednesday. The stock has a market cap of $34.29 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 1.85 and a beta of 0.83. The company has a quick ratio of 2.39, a current ratio of 3.17 and a debt-to-equity ratio of 0.52. Vulcan Materials has a fifty-two week low of $166.43 and a fifty-two week high of $276.58. The firm’s 50 day moving average price is $264.10 and its two-hundred day moving average price is $234.05.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings results on Friday, February 16th. The construction company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. Vulcan Materials had a net margin of 11.99% and a return on equity of 12.80%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the company posted $1.08 earnings per share. Vulcan Materials’s revenue was up 5.9% compared to the same quarter last year. On average, analysts anticipate that Vulcan Materials will post 8.43 EPS for the current year.

Vulcan Materials Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were given a dividend of $0.46 per share. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, March 1st. Vulcan Materials’s payout ratio is presently 26.36%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VMC. Raymond James raised their target price on shares of Vulcan Materials from $225.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Wolfe Research cut shares of Vulcan Materials from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $270.00 target price (up from $245.00) on shares of Vulcan Materials in a research report on Friday, March 22nd. Morgan Stanley began coverage on shares of Vulcan Materials in a research report on Monday, January 8th. They issued an “equal weight” rating and a $208.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on shares of Vulcan Materials from $236.00 to $269.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 20th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.00.

Insider Transactions at Vulcan Materials

In other news, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total transaction of $862,336.00. Following the transaction, the senior vice president now directly owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Denson N. Franklin III sold 3,200 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total transaction of $862,336.00. Following the transaction, the senior vice president now directly owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Melissa H. Anderson sold 1,200 shares of Vulcan Materials stock in a transaction on Monday, February 26th. The stock was sold at an average price of $260.48, for a total transaction of $312,576.00. Following the completion of the sale, the director now owns 330 shares of the company’s stock, valued at approximately $85,958.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,017 shares of company stock valued at $3,344,741. Corporate insiders own 0.61% of the company’s stock.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.